Array

TOKYO, Aug 1 (Reuters) Gold was weaker on Wednesday as investors continued to focus on equities markets for trading cues after a sell-off in stocks pulled bullion down last week, while a stronger yen dampened yen-based Tokyo gold futures.

-- Spot gold was trading at $663.70/664.50 an ounce as of 0036 GMT, down from $665.50/666.30 late in New York on Tuesday.

-- Tokyo's benchmark Nikkei stock average <.n225> fell 1 percent on Wednesday as investors sold high-tech exporters such as Sony Corp. after a tumble on Wall Street.

-- While firm oil prices were supportive, continued volatility in the stock markets made investors reluctant about buying commodities, an alternative asset class.

-- U.S. oil futures closed above $78 a barrel on Tuesday, near their all-time record high of $78.40 in July 2006, boosted by falling U.S. crude inventories.

-- The dollar stood at 118.55 yen , hovering near a three-month low of 118.02 yen hit on electronic trading platform EBS last week.

-- The benchmark June 2008 gold futures contract on the Tokyo Commodity Exchange was at 2,556 yen a gram, down 17 yen or 0.7 percent from the previous close.

-- Other precious metals tracked gold lower.

-- Cash platinum traded at $1,287/1,292 an ounce, slightly down from $1,290/1,294 in New York.

-- Cash silver was at $12.81/12.86 an ounce, versus $12.90/12.94 late in New York.

-- Russian metals giant Norilsk Nickel , the world's No.1 nickel and palladium producer, said on Tuesday it kept its output forecast for palladium and platinum unchanged.

[ID:nL31894420] -- Palladium was little changed at $362/366 an ounce from $363/367 in New York.

Reuters SAM VP0700